Chicago Agriculture Commodities Traded Mixed

Chicago Agriculture Commodities Traded Mixed

Chicago Agriculture Commodities Traded Mixed

$SOY, $WEAT, $CORN

Chicago Board of Trade (CBOT) agriculture commodities traded mixed Thursday morning on uncertainty of future export sales, following a significant rally in the past 3 sessions.

As of 1457 GMT, the most active Soybean contract for November delivery was down 1.5c at 8.5625 bu, while December Corn was up 3.5c at 3.645 bu, and September Wheat was up 10.25c at 5.21 bu.

CBOT Soybeans had gained nearly 3% earlier this week over declined crop ratings.

However, pressure from the unsolved trade disputes between the US and China is still there, and the US Department of Agriculture (USDA) recently cut its outlook for soybean exports by 250-M bu to 2.04-bu in MY 2018-19 .

This adjustment presents a Bearish picture for US Soybean exports.

Have a terrific weekend…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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